AgDay Daily Recap -October 26, 2014

OPEN HEADLINES:
COMING UP TODAY ON AGDAY - CATTLE PRICES STAY HOT MAKING IT HARD TO HOLD ON TO CALVES... PLUS, WHILE SOME CUT CORN FOR GRAIN...IN TEXAS ITS SILAGE TIME...IN AGRIBUSINESS...MAKING SMART PLANTING DECISIONS FOR 2015. WE'RE GOING TO NEED MAYBE 4.25 4.30 IN MY OPINION TO GET EVEN CLOSE TO THE ACREAGE GUYS ARE CALLING FOR US TO GET MACHINERY PETE SAYS LOW HOUR USED EQUIPMENT IS STILL A STRONG SELLER AT AUCTIONS. AND LEARNING TO SUCCEED THANKS TO HARD WORK AND THE SHOWRING...
AGDAY-BROUGHT TO YOU BY CHEVY SILVERADO 2014 NORTH AMERICAN TRUCK OF THE YEAR.CASH CATTLE:
GOOD MORNING I'M CLINTON GRIFFITHS. CAN CATTLE KEEP ON ITS RECORD RUN THIS WEEK...AS TIGHT SUPPLIES AND STRONG DEMAND KEEP BEEF A HOT COMMODITY, AND THAT'S OUR TOP STORY ON AGDAY.DERRELL PEEL:
1.41 THESE KINDS OF MARKET MAY ALSO BE IMPACTING PRODUCER RETENTION DECISIONS IN GENERAL. I THINK THERE'S A LOT OF INTEREST IN HEIFER RETENTION BUT DEPENDING ON YOUR EXPECTATONS IT MIGHT IMPACT THAT. IF A PRODUCER DOESN'T THINK THIS IS FOR REAL AND ITS GOING TO LAST FOR ANY LENGTH OF TIME THEN YOUR TEMPEATION IS CERTAINLY GOING TO BE TO SELL EVERYTING YOU CAN AND SELL AT THSE PRICES. AGAIN I THINK THESE MARKET SARE FUNDAMENTIALLY STRONG AND I THINK THERE IS SOUND REASON WHY WE ARE WHERE WE ARE. AND SO I THIN A LOT OF PRODUCERS ARE GOING TO CARRY THROUGH WITH THESE RETENTION PLANS. IN FACT I WOULD ARGUE THESE PRICES ARE THE MARKETS WAY OF EMPHASIZING THAT WE DO REALLY NEED TO REBUILD.CATTLE ON FEED:
SPEAKING OF RETENTION, THE LATEST CATTLE ON FEED REPORT CAME OUT FRIDAY. IT SHOWS PLACEMENTS IN SEPTEMBER WERE ACTUALLY HIGHER THAN A YEAR AGO. UP ONE PERCENT TO ROUGHLY 2 MILLION HEAD...BUT THAT'S STILL THE LOWEST NUMBER OF CATTLE PLACED IN FEEDLOTS SINCE THE NUMBERS STARTED BEING COLLECTED BACK IN 1996. OVERALL 10 POINT 1 MILLION HEAD OF CATTLE ARE ON FEED...DOWN ONE PERCENT YEAR TO YEAR. HEIFERS WERE OFF 3 PERCENT AS MORE PRODUCERS TRY TO KEEP BREEDING STOCK AT HOME IN AN EFFORT TO REBUILD.SILAGE:
A GROWING NUMBER OF TEXAS FARMERS ARE CHOPPING THEIR CORN AND SORGHUM CROPS FOR SILAGE INSTEAD OF GRAIN. THE INCREASE MIRRORS THE GROWTH IN THE DAIRY INDUSTRY IN TEXAS. THE HERD SIZE GREW FROM 317-THOUSAND HEAD IN 2004 TO 470-THOUSAND HEAD THIS YEAR. IN THIS REPORT FROM THE TEXAS FARM BUREAU, ED WOLFF SAYS WITH UNCERTAINTY OF FORAGE IN A DROUGHT-PRONE STATE, SILAGE CHOPPING IS PAYING OFF.CROP WATCH:
MIKE HOFFMAN TOOK THE DAY OFF. METEOROLOGIST CINDI CLAWSON HAS OUR MONDAY CROPWATCH.PEDV:
AS WE MOVE THROUGH FALL, PORK PRODUCERS ARE STEPPING-UP EFFORTS TO PREVENT A BIG UPSWING IN THE NUMBER OF CASES OF PORCINE EPIDEMIC DIARRHEA VIRUS - OR PEDV. VETERINARIANS NOTICED THE NUMBER OF CASES MOVED HIGHER IN WINTER, BUT DECREASED AS WE MOVED TOWARDS SPRING. NATIONAL REPORTER BETSY JIBBEN JOINS US NOW WITH AN UPDATE, BETSY.BB MYCOGEN:
GROWING CORN AND SOYBEANS IS ABOUT MORE THAN JUST YOUR YIELD. IT'S WHAT YOU WRE MEANT TO DO. VISIT ACRES OF POSSIBILITY.COM TO DISCOVER THE POTENTIAL OF MYCOGEN SEEDS.ANALYSIS INTRO:
DELAYS THIS FALL COULD IMPACT YOUR PLANTING DECISION FOR NEXT SPRING. WE TAKE A CLOSER LOOK IN THIS MORNING'S ANALYSIS WITH FARM DIRECTOR AL PELL.ANALYSIS BENEFITS:
WE'RE TALKING WITH MATT BENNETT HERE AT THE AGRIBUSINESS DESK AND WHAT I'D LIKE TO DO MATT IS TALK TO A LITTLE BIT ABOUT NEXT YEAR 2015 BECAUSE WE DON'T KNOW HOW MUCH WE'RE GOING TO PLANT WE DON'T KNOW WHAT THE YIELD ARE GOING TO BE THE WEATHER AND ALL THIS KIND OF STUFF BUT THERE'S SOME DECISIONS THAT NEED TO BE MADE RIGHT NOW IN BOTH CORN AND BEANS. EXACTLY AND THERE'S A FEW THINGS THAT'S KIND OF HELPING US UNDERSTAND WHAT DECISIONS HAVE ALREADY BEEN MADE AND MAYBE WHAT DECISIONS THAT CAN'T EVEN BEEN MADE BECAUSE OF WEATHER YOU KNOW WHEN YOU LOOK AROUND THE MIDWEST THERE'S A LOT OF AREAS THAT YOU KNOW THEY DON'T KNOW WHETHER THEY'RE GOING TO GET THEIR WHEAT CROP PLANTED. RIGHT...YOU KNOW THERE'S A LOT OF AREAS IN THE MIDWEST WHERE YOU DON'T SEE ANYBODY BEING ABLE TO RIP CORN STALKS AND SO CORN ON CORN ACRES PROBABLY GOING TO BE VERY LOW LOT OF GUYS THAT YOU TALK TO ABOUT FERTILIZER IN FACT A COUPLE OF MY GOOD FRIENDS IN THE INDUSTRY HAVE SAID THAT THE AMOUNT OF FERTILIZER PUT ON HAS BEEN VERY SMALL AND SO THAT'S A BIT OF AN ISSUE MOVING FORWARD WITH ACRES. ALSO AN INDICATION…IT'S A VERY BIG INDICATION OF WHAT WE'RE LOOKING AT GOING FORWARD AND SO AS A PRODUCER I AGAIN I REALLY WANT TO BE LOOKING CLOSELY AT WHAT MY COST STRUCTURE IS AND WHAT THE PROFITABILITY IS OF ME GOING AHEAD AND PLANTING CORN OR BEANS WE DON'T KNOW EXACTLY WHERE PRICE LEVELS ARE GOING TO GO MOVING FORWARD BUT WE DO KNOW IF WE LOCK IN FOR INSTANCE BEANS CLOSE TO 10 DOLLARS ON THE NOVEMBER 15 THAT IS A PROFITABLE LEVEL FOR MOST PEOPLE THAT WE DO BUSINESS WITH AS FAR AS CORN GOES YOU KNOW IT'S BETTER THAN WHAT IS WAS BEFORE BUT WE HAVE TO UNDERSTAND THAT WE'RE GOING TO HAVE TO RALLY THE CORN MARKET ENOUGH TO GET THE KIND OF ACREAGE THAT WE NEED AND IF WE DON'T GO AHEAD AND RALLY TO THAT LEVEL I CAN'T TELL YOU EXACTLY WHERE WE'RE AT BUT WE'RE GOING TO NEED MAYBE 4.25 4.30 IN MY OPINION TO GET EVEN CLOSE TO THE ACREAGE GUYS ARE CALLING FOR US TO GET IF WE DON'T GET THERE THEN YOU'RE GOING TO SEE BIG RALLY IN THE CORN MARKET. SO WE MAKE THAT DECISION BASED ON WHATEVER YOUR COSTS ARE WHAT'S IT'S GOING TO TAKE TO PRODUCE AND THEN GO. I THINK THAT'S THE BEST WAY FOR A PRODUCER TO ATTACK THIS HOW PROFITABLE CAN I BE WHETHER IT'S CORN OR BEANS WHERE AM I GOING TO FALL IN AT I THINK THAT MOST GUYS ARE GOING TO CHOOSE NOT TO PLANT CORN ON CORN IT'S A VERY RARE DECISION THAT WE'RE SEEING SO FAR THIS YEAR BUT LOOKING FORWARD I STILL WANT TO PLAN A FAIR AMOUNT OF CORN ACRES CAUSE I DO THINK THERE'S GOING TO BE A BIT OF A STRUGGLE TO BUY THE ACRES. OKAY THANK YOU VERY MUCH WE'VE BEEN TALKING WITH MATT BENNETT HERE AGDAY BACK WITH MORE IN A MOMENT.MACH PETE:
AT SOME RECENT AUCTIONS, MACHINERY PETE WAS SURPRISED HOW EQUIPMENT WITH FIFTEEN-PLUS YEARS ARE HOLDING THEIR OWN WHEN IT COMES TO SELLING PRICES. HE JOINS US FROM HIS HOME OFFICE WITH SOME EXAMPLES.MACHINERY PETE:
THANKS, GREG. YOU CAN STAY UP TO DATE WITH THE LATEST DEALS BY FOLLOWING PETE ON TWITTER OR LIKING HIM ON FACEBOOK. IN ADDITION TO HIS WEEKLY SEGMENT ON AGDAY, HE'S ALSO FEATURED EVERY WEEK ON AGRITALK AND AGWEB DOT COM.CLOSE:
THANKS DAVE. MCPEAK SAYS HIS CAMP STARTED AS A 4 DAY EVENT ONCE A SUMMER AND HAS GROWN INTO 5 ONE-WEEK CAMPS ON THE CONNERS STATE COLLEGE CAMPUS.
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.